The Latest Breaking News from Petroleum

Minister of State for Petroleum Resources Heineken Lokpobiri said the government wanted to make it clear it was not controlling petrol prices because the sector was deregulated, and added they were working hard to quickly resolve the situation, following which the prices will stabilize.

In 2023, 83% of energy consumption was from fossil fuels, 9% was from nuclear power, and 9% was from renewable energy.

8/16/1933: President Roosevelt adopts the Code of Fair Competition for the Governance of the Petroleum Industry. The Supreme Court declared those codes unconstitutional in Panama Refining Co. v. Ryan (1935).

Nearby NYMEX crude oil prices reached a 2024 high in mid-April. After falling to an early June low, prices recovered to a lower high in early July, where they ran out of upside steam. As the fall and winter approach, crude oil is trending lower, but the upcoming U.S. election…

Despite Occidental Petroleum underperforming the broader market over the past year, analysts remain moderately bullish on the stock’s potential.

Occidental Petroleum stock has dropped 20% since hitting highs in April.

The development, planned to be offshore from Sydney to Newcastle, was vetoed by Scott Morrison when resources minister

The Biden administration's recent oil purchase for the Strategic Petroleum Reserve has sparked debate among lawmakers over its implications and strategic i...

Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas fields in the northern province of Kirkuk.